Saving Big Bucks Despite the Big Trucks

on August 06, 2013

Oh, Money.

Saving it in the Truck industry is a tricky thing to do. But with the economy not exactly at its peak, the nation is chiming together to come up with solutions and here are some for you:


The DOT

Obama has challenged to find a way for saving paper and the DOT officials have stepped up to the plate. They have instituted that although inspections must still go on, the paper work would only have to be filled out and reported should there actually be a deficiency found during inspection.

This way, the 95% of paperwork that is just routine and without any actual broken parts to report would save an estimated 1.7 billion dollars a year on that amount of paper and focus in better on the actual issues outlined in the other 5% of reports. FMCS Admin, Anne S. Ferro, has stated that she is proud to offer this solution of saving on paperwork without compromising on safety.

Pell Grants

Obtaining your CDL Driver’s License can cost you in the thousands, although it spawns only over a couple weeks. But the approximately $3000 you spend on school will be worth the $50,000 a year you’ll earn just upon your start-up in the trucking business.

If the $2,500 to $6,500 in tuition is too much for you at this point, that’s reason in itself that this high-earning job would do you good. But you’d be surprised to learn that although scholarships are not made available for CDL training as it is with regular college; there are financial coverage options such as Pell Grants that are granted to you in amounts according to your expected contribution rate. Filling out a form with FAFSA online gets you started. Just be sure you aren't selling drugs, and have a background in basic education, because otherwise would leave you ineligible for this opportunity of a life-time.


Companies

Companies are more desperate for drivers than you think. Due to that, pay is rising as some companies have resorted to upping their salary offers by adding sometimes $4 more per mile! The lack of drivers gravely affects the economy because trucking has been the cheapest type of goods transportation and accounts for majority of load transports nationally, and without it, companies would have to turn to more expensive options and consumers end up paying more for goods. 

Due to the increase in online shopping and shipments, the need for drivers has resulted, but the amount of people signed up for training will only fill 10% of that need! Companies have purchased sparkling brand new trucks that sit gathering dust in parking lots because the driving positions have still not been filled. Signing up to CDL School would do a great favor to yourself and to the world.


Yourself

Okay, so now that you've got your license, your job, and your truck, let’s get started with saving money on YOU’RE end. If it’s your own truck, speak to your accountant or financial adviser because the odds have it, that more of your expenditure can be tax deductible than you thought. Safety equipment, such as tie-down straps, hooks, and load bars and even truck repairs can often be reduced in expense and you end up saving loads on your load.

The price of gas is skyrocketing, and with diesel fuel costing drivers more than $4 per gallon in some states, saving is tricky. For larger companies, buying in bulk and heavy storage when the price is low is the way to go. In smaller, more private companies though, Drivers are forced to purchase by the gallon. In this case, simply adding additives, fuel injectors, and cleaning out the engine regularly are just some of the ways to save. Tanks are much more efficient and less quick to gas-guzzle when running on cleaner engines.

Consider hauling specialized loads, such as over-sized cargo or hazardous material. If you need the extra money, and have the expertise, it may be worth the tripled income earned from regular trucking.


Due to the on-the-road type job that it is, food situations often consist of on-the-go type menus, all of which are costly. Truckers are spending about $10,000 on restaurant food and with that on-the-road lifestyle, it can be hard to commit to food from home and bulk-buying from grocery stores, and making food yourself, but saving $$$ may be worth the rumble your belly as you wait another hour for the oven to heat up that pie.

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Thanks for sharing with us!

shouldn't be volgur.